Taiwan’s China Development Industrial Bank (CDIB) and Grand Cathay Securities Corporation (GCSC) have selected SunGard’s FRONT ARENA solution for cross-asset sales, trading, risk management and back-office functions.
“We want to build an integrated team of the strongest banking and securities practitioners in Taiwan,” China Development Financial Holding Corporation (CDFH) owns CDIB and GCSC. Stan Siao, executive vice president of CDFH and chief executive officer of GSCS, said. “We are also putting in place an infrastructure to support our Taiwanese and Asian expansion plans. In addition, with changes in market deregulation and a customer base Demanding more sophisticated products and services, we wanted to be in a position to lead this change. FRONT ARENA can help provide us with an integrated solution from which we can trade multiple products across all asset classes.”
FRONT ARENA will provide both companies with enterprise-wide trading, including real-time pricing, trade entry, position and risk management for fixed income, interest rate, credit derivatives, FX and FX options, futures, equity and equity derivatives for both OTC and electronically exchange-traded products.